Monday, April 28, 2008

2007-W & 2008-W Burnished Gold Eagle Mintage Figures

For the next few posts, I will be taking a look at the latest sales figures for some 2007 and 2008 precious metals related mint products. With one third of the year nearly gone and the Mint transitioning to from 2007 dated to 2008 dated products, it might be a good time to make some observations or catch some early trends.

First up are the 2007-W and 2008-W Burnished Gold Eagle Coins. As a refresher, these are the "collectible versions" of the Uncirculated Gold Eagles, which are offered for sale directly from the US Mint. The coins are struck on specially burnished blanks and carry the "W" mint mark. Mintages are usually much lower than the bullion counterparts, although offering prices are usually only slightly higher.

On April 1, 2008, the Mint officially began sales of the 2008-W Gold Eagles and ended sales of the remaining options for the 2007-W Gold Eagles. Since that time, the price of gold has recovered from a dip below the $900 mark, only to fall below $900 once again. The sales figures represent the most recent Mint Statistic from Numismaster.

The first table shows the last reported sales figures for the 2007-W Burnished Gold Eagles for each product option. While final mintages have not been released by the Mint, these should provide a good early indication.

2007-W Burnished Gold Eagle Mintage Figures

1 oz. Gold

16,724

1/2 oz. Gold

5,180

1/4 oz. Gold

6,437

1/10 oz. Gold

16,122

Gold 4 coin set

8,178

The second table shows the mint sales figures as of April 24, 2008 for the 2008-W Burnished Gold Eagles for each product option.

2008-W Burnished Gold Eagle Mintage Figures

1 oz. Gold

730

1/2 oz. Gold

272

1/4 oz. Gold

244

1/10 oz. Gold

1,981

Gold 4 coin set

711

Looking at the data, it seems like the 2007 mintages will come in relatively low, with the 1/2 ounce coin being the lowest. Taking into account the coins included in the 4 coin sets, there were only 13,358 sold. This does not seem to be translating into a premium in the secondary market yet, but it is definitely worth watching.

Sales of the 2008 dated coins seem to be off to a very slow start. After the run up in gold across the $1,000 mark earlier this year, interest in gold products in general may be waning the ongoing pause/pull back. Looking ahead, if there is a renewed run up in the price of gold, I think sales figures will once again start to move. If gold continues to fluctuate around the current range, sales will likely remain relatively muted.